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President Joe Biden's recent executive order to phase out the federal government's use of private prisons is a welcome start to what needs to be a broad reform of the prison system where profit-based incentives to incarcerate run deep, says Jeffrey Bornstein at Rosen Bien.
GE gets dismissal of most of shareholder lawsuit over accounting, disclosures By Jonathan Stempel
The General Electric Co. logo is seen on the company s corporate headquarters building in Boston
NEW YORK (Reuters) – A U.S. judge in Manhattan has dismissed most but not all of a shareholder lawsuit accusing General Electric Co of concealing billions of dollars of insurance liabilities and using questionable accounting to prop up its power business.
In a Friday night decision, U.S. District Judge Jesse Furman dismissed fraud claims based on GE’s alleged misrepresentations about its long-term care insurance portfolio, and most claims concerning long-term service agreements in its power division.